Ekinops reported Q2 2022 revenue s consolidated revenue stood at €35.5m, vs. €27.6m a year earlier. At constant scope and exchange rates, quarterly growth stood at +24%.
Over H1 2022, revenue amounted to €63.3 million, vs. €50.8 million in H1 2021, an increase of €12.5m. This solid level reflects robust growth of +25% relative to H1 2021 and +20% relative to the H2 2021, which traditionally contributes more.
Ekinops noted growth in all of its business lines (Optical transport, Access and Software & services). In the wake of 2022, the Optical transport activity was particularly buoyant, with robust growth of +31% relative to H1 2021, thanks to the success of 200 Gbps and 400 Gbps WDM systems.
Over the period, momentum in Access solution sales was also strong in all regions, with +21% growth compared to H1 2021.
Driven by the success of SDN (Software Defined Networks) solutions, network functions virtualization (VNFs – Virtual Network Functions), Services activity, including the contribution of SixSq's activities, revenue generated by sales of software and services, which constitute a factor for improving profitability, jumped by +47%, representing 15% of H1 revenues.
By geography, revenues wereup +29% in France and strong sales momentum in international business, including +48% in North America. International sales momentum was upbeat over H1 2022, with revenue up +22% and strong growth in all regions. International business accounted for 65% of total revenue over H1 2021 (vs 67% a year earlier). Business volumes totaled €12.8 million in North America, representing strong growth of +48% relative to H1 2021 (+33% in US dollar), driven by demand for Optical transport equipment. Ekinops reached, for the first time, 20% of its revenue in North America in H1 2022 (vs. 17% in the previous year).
At mid-year, EMEA (Europe, excl. France, Middle-East and Africa), which accounts for 38% of business, generated revenue of €24.3 million, up +6% relative to H1 of the previous year.
Didier Brédy, Chairman and CEO of Ekinops, stated: "After a dynamic 2021 for Ekinops, this beginning of 2022 is marked by a clear acceleration in demand growth. Illustrating this dynamism, all our business lines show strong growth, with strong traction in our Optical transport solutions, particularly in North America. This momentum puts us ahead of our target set at the time of the OTN technology acquisition in 2019, namely, to triple our sales over 5 years for this business line. Beyond the excellent growth in sales, my greatest satisfaction is the tremendously positive feedback from our largest customers regarding our ability to deliver on schedule while the unprecedented components crisis is raging. From the beginning of the Covid crisis, we have chosen to use our balance sheet to increase our inventory, to buy certain risky components 12 to 18 months in advance, while we would buy those 6 months ahead before the crisis. These choices have proven to be right ones as they generate goodwill from our customers and allow us to win market share."
